California Form 3725 - Assets Transferred From Parent Corporation To Insurance Company Subsidiary - 2013 Page 2
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1
2Section C – Long-Term Capital Gains and Losses-Assets Held More Than One Year. Use additional sheets if necessary .
(a)
(b)
(c)
(d)
(e)
(f)
Taxable year
Description of
Date of disposal
Fair market value
Cost or
Gain (loss)
property
(mm/dd/yyyy)
or gross sales price
other basis
(d) less (e)
9
10 Long-term capital gains (losses). Total amounts in column (f) . Enter here and on Form 100 or Form 100W, Side 6,
Schedule D, Part II, line 5, column (f) or Schedule D (100S), Section A or Section B, Part II, line 4, column (f) .
See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
General Information
2 . Commonly controlled group – Commonly
Part II – Assets Transferred
controlled group exists when stock
from Insurance Company to
A Purpose
possessing more than 50% of the voting
power is owned, or constructively owned,
Other Companies
Use form FTB 3725, Assets Transferred from
by a common parent corporation (or chains
Parent Corporation to Insurance Company
of corporations connected through the
Section B – Short-Term Capital Gains
Subsidiary, to track the assets transferred from
common parent) or by members of the
a parent corporation to an insurance company
and Losses- Assets Held One Year or
same family, see R&TC Section 25105 .
subsidiary . In addition, use this form to figure
Also, a commonly controlled group includes
Less and
capital gains (losses) if the parent corporation
corporations that are stapled entities,
Section C – Long-Term Capital Gains
transferred assets to an insurance company
see R&TC Section 25105(b)(3) . Special
and Losses-Assets Held More Than
subsidiary beginning on or after June 23, 2004 .
rules are provided in R&TC Section 25105
One Year
California Revenue and Taxation Code (R&TC)
for partnerships, trusts, and transfers of
Section 24465 provides that when a parent
voting power by proxy, voting trust, written
Report short-term or long-term capital gains
corporation transfers appreciated property
shareholder agreement, etc .
(losses) based on the length of time the parent
to an insurance company subsidiary, the
corporation held the assets .
Specific Line Instructions
gain is deferred if the property transferred to
Line 7 and Line 9, column (b) – Description of
the insurer is used in the active conduct of
Part I – Assets Transferred
property. Describe the assets that the insurance
a trade or business of the insurer . The gain
company sells to another company; or the
from Parent Corporation to
must be recognized as income if any of the
transferred assets that the insurance company
following apply:
Insurance Company Subsidiary
does not use in its active trade or business .
• The transferred property is no longer owned
Line 7 and Line 9, column (d) – Fair market
by an insurer in the taxpayer’s commonly
Section A – Information on
value or gross sales price. Enter the FMV of the
controlled group (or a member of the
Properties Transferred
assets as of the date that the insurance company
taxpayer’s combined reporting group) .
no longer uses the assets in its active trade or
• The property is no longer used in the active
Line 1 – Enter the insurance company’s California
business . Or, enter the gross sales price of the
conduct of the insurer’s trade or business (or
corporation number or federal employer
assets if the insurance company sells the assets
the trade or business of another member in
identification number (FEIN) . If the insurance
to another company .
the taxpayer’s combined reporting group) .
company does not have one of these numbers,
• The holder of the property is no longer held
Line 8 – Short-term capital gains (losses). Total
enter “not applicable” and continue with line 2 .
by an insurer in the commonly controlled
amounts in column (f) . Enter total short-term
group of the transferor (or a member of the
capital gains (losses) here and on Form 100 or
Section B – Deferred Capital Gains
taxpayer’s combined reporting group) .
Form 100W, Side 6, Schedule D, Part I, line 1,
Line 3, column (b) – Description of property.
column (f) or Schedule D (100S), Section A or
R&TC Section 24465 applies to transactions
Describe the assets the parent corporation
Section B, Part I, line 1, column (f) . Write on
entered into on or after June 23, 2004 . For more
transferred to an insurance company subsidiary .
Schedule D, under column (a) Description of
information, refer to R&TC Section 24465 .
property: “FTB 3725” and attach a copy of form
Line 3, column (e) – Fair market value at date of
Note: In completing this form, the “transferor”
FTB 3725 to the tax return .
transfer. FMV is the price that the property would
of the appreciated property can be a parent
sell for in the open market .
Line 10 – Long-term capital gains (losses).
corporation or other taxpayer (or a member of the
Total amounts in column (f) . Enter total long-term
Line 3, column (f) – Cost or other basis. In
taxpayer’s combined reporting group) .
capital gains (losses) here and on Form 100 or
general, the cost or other basis is the cost of
B Definitions
Form 100W, Side 6, Schedule D, Part II, line 5,
the property plus purchase commissions and
column (f) or Schedule D (100S), Section A or
improvements minus depreciation, amortization,
1 . Appreciated property – Appreciated property
Section B, Part II, line 4, column (f) . Write on
and depletion . Enter the cost or adjusted basis of
means property whose fair market value
Schedule D, under column (a) Description of
the asset for California purpose .
(FMV), as of the date of the transfer, exceeds
property: “FTB 3725” and attach a copy of form
its adjusted basis as of that date .
FTB 3725 to the tax return .
Side 2
FTB 3725 2013
7432133
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